Economy
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The Labor Party has lost its way
The Labor Party is a long way from done but at the moment it is mired in mediocrity. We need a Labor Party agenda in which the big issues are confronted, writes Bill Kelty. Continue reading »
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Interest rates, inflation and unemployment: Are there better ways to manage the economy?
As the Reserve Bank of Australia (RBA) attempts to keep both inflation and unemployment rates low, it faces a tricky challenge. But are there better ways of managing demand in the economy? Continue reading »
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Beijing’s big policy shift signals new approach to state-market ties
Much more than a cyclical adjustment, Beijing’s latest policy shift marks a milestone in the history of its economic management. Continue reading »
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Will the iron ore bonanza be repeated with “green” steel?
Iron ore has underpinned Australia’s prosperity. Gas and coal exports are bound to fall as market countries cut their carbon emissions. Can we build our future on “green” steel? Continue reading »
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Supermarket pirates: The Coles-Woolworths racket
There are few economies on the planet more concentrated in terms of vital services and markets than Australia. The players and actors are few and far between, be they in banking, insurance, supermarkets, the media or the aviation market. Continue reading »
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Chinese economists were pleading for government action
Ren Zeping’s almost frantic call one week ahead of Beijing’s dramatic loosening of monetary policy. Continue reading »
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Nasrallah is dead but Bibi hasn’t won
Many people now mourn Nasrallah’s death, in Lebanon and elsewhere, but Hezbollah’s existence is nowhere near in question. Continue reading »
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If we can’t have vision, let’s have boldness and strength of purpose
One should never feel sympathy for a politician caught in a rule-in rule-out game. Perhaps the period should be after the eighth word, but there is something spectacularly dumb about foreclosing on policy options even when they are not under active contemplation, narrowing the range of debate and allowing its terms to be set by Continue reading »
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Market hits record high
The All-Ords was in a sideways trading range between early February and early August and then dived. Since then, it has not only rebounded but escaped its former range ceiling and is now trading at a record high. Continue reading »
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Building a new global economic order: The role of BRICS
Over the past few decades, the Western economic system has shifted increasingly towards financialization, prioritizing the creation of paper wealth through financial markets rather than real economic output. Continue reading »
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International comparisons of monetary policy
Much of the expert commentary on Australia’s monetary policy settings is guided by what is happening in other countries. However, monetary tightening can have a markedly different impact in different countries, and while Australia appears to have been more cautious, so far it seems to have managed well. Continue reading »
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China solar giant Trina seeks approval for biggest battery project in Australia
The Chinese-based solar giant Trina Solar has submitted plans to build what would be the biggest battery storage facility in Australia, at Kemerton in an industrial zone south of Perth. Continue reading »
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China and the West: commercial pragmatism versus political resistance
The chief business of the American people is business.” This sentiment rings true today, particularly when examining the growing divide between business leaders and political elites regarding China. While business leaders view China as a crucial partner, political figures continue to frame the count Continue reading »
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What would a second Trump presidency mean for the global economy?
Donald Trump inherited a strong economy from President Barack Obama and managed it poorly. Continue reading »
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Driving VW off a cliff: Germany’s lemming strategy and what it means for us
Something absolutely stupefying is happening in Germany: its iconic auto company, VW, the darling of every Chancellor from Adolf Hitler to Olaf Scholz, appears to be in a death spiral. At the end of this story I’ll draw a link to the salutary lesson countries like Australia and New Zealand need to draw from the Continue reading »
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Does the Reserve Bank need to change?
Shortly after he became Treasurer, in July 2022, Jim Chalmers announced a review of the Reserve Bank – the first since the current monetary policy arrangements were instituted in the 1990s. Continue reading »
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Giving Medicare teeth is a chance to fix its flaws
Doctors tried to stop it at first, but half a century later Medicare is an untouchable brand in Australian healthcare and politics. While we’re lucky to have it, Medicare isn’t perfect. Expanding it to cover dental care is long overdue, but that shouldn’t mean repeating Medicare’s mistakes. Continue reading »
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Albanese has a second chance with AUKUS
Australia is to spend mind-boggling money to weaken its own security. Minister RIchard Marles has released a National Defence Strategy which centres on what he calls “projection”. That is, Australian forces threatening China from China’s surrounding waters. The Albanese Government’s defence policy manufactures grievous risk for Australia. That risk must be understood by the government. Continue reading »
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Private equity bares its tactics in private healthcare shakedown
An article published in the Medical Journal of Australia earlier this year points to increased private equity (PE) activity in Australian healthcare, conservatively estimating A$4.5 billion in acquisitions across general practice and selected specialties in 2022 alone. The paper refrains from extensive commentary on the drivers and implications of this trend. However, it points to Continue reading »
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When should we expect interest rates to fall?
The Reserve Bank has explicitly warned against any expectation that interest rates will start to fall soon. On the other hand, the Treasurer recently claimed that the Reserve Bank is smashing the economy, implying that interest rates should fall soon. Who is right? Continue reading »
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How threatening is AI? Opinions differ in the United States and China
Three years ago, in 2021, Henry Kissinger and two other noted gurus, Eric Schmidt, owning a technical background and who later became CEO of Google, and Daniel Huttenlocher, who founded Cornell Tech and was dean of MIT Schwarzman College of Computing, penned the book The Age of AI and Our Human Future. The book was Continue reading »
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South Australia joins Denmark in elite club of two, ‘pushing the boundaries’ of renewable energy integration
South Australia has joined an elite global club, after being listed alongside Denmark as the only other energy system in the world to be successfully managing significant volumes of surplus variable renewable energy across the year – albeit with a lot of hard work ahead. Continue reading »
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Israel is joining the first global AI convention; here’s why that’s dangerous
Over the last year Israel has weaponised AI in its genocide in Gaza, deploying AI-driven surveillance and automated targeting systems which has killed tens of thousands. Israel’s participation in the first global AI treaty raises serious questions. Continue reading »
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Australian wheat and the BRI: The economic geography of the world’s grain trading
The global wheat trade is undergoing a transformation, shaped by geopolitical shifts, strategic investments, and historical legacies. Central to this evolution is China’s Belt and Road Initiative and its expected impact on traditional trade relationships, including those with Australia. Continue reading »
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Why I support state intervention in the CFMEU
The Haydon Royal Commission in 2014 revealed evidence that corrupt elements were infiltrating the CFMEU, NSW Branch. This grew steadily in the 10 years since and the branch is now rotten. In Victoria, the “strongman” leadership of John Setka and his close friendship with a “colourful identity” and building industry fixer, together with an influx Continue reading »
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Murdoch to Musk: how global media power has shifted from the moguls to the big tech bros
Until recently, Elon Musk was just a wildly successful electric car tycoon and space pioneer. Sure, he was erratic and outspoken, but his global influence was contained and seemingly under control. Continue reading »
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The contested politics of housing reform
While most Australians remain well-housed, few public policy experts would argue that our housing system is today in good shape. Homelessness continues to increase and both rental and mortgage affordability stress are widespread. Continue reading »
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Drafting the first laws to govern AI
Yesterday the Minister for Industry, Science and Technology, Ed Husic, released a discussion paper proposing a set of ‘mandatory guardrails’ for the use of Artificial Intelligence (AI). Science Fiction fan, Richard Creswick thinks he beat the Minister to the punch. Continue reading »
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The US made the Dutch an offer they couldn’t refuse
Hold on to your mobile phones, civilians, this is gonna get rough. If you thought the Sopranos and Corleones were intimidating, check this out. Continue reading »
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Why WA gets the share of GST that it wants
WA Treasurer Rita Saffioti MLA is almost certainly right when she says that there would be a “voter backlash” [in Western Australia] if “you take our [sic] GST”, as reported in The Australian. Continue reading »
